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Jamie-Law, Solicitor

Category: Law

Satisfied Customers: 6138

Experience: Solicitor

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I have just found out that my 28000 pound business loan is

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I have just found out that my 28000 pound business loan is an unregulated loan and never understood there was any difference. I have asked for and received a copy but it does not show anywhere on the agreement the amount borrowed the interest rate or the total amount to be paid back what should i do

Should i have in this agreement somewhere the amount i borrowed also the interest rate that im being charged as i took out the loan on 17/03/17 for £28,000 and earlier this week i asked for a settlement figure and it has come back at £44,867 i have made payments of £10,338 in there agreement it states that the monthly payments will be £1317.20 pm inc vat they have been taking a direct debit amount of £1417.00 pm inc vat at the moment i have know idea what interest rate im on and feel trapped and conned.I am a sole trader new business and did not fully understand what i was getting into as it also says that the agreement is unregulated help

for my business, but they have not given any paperwork relating to the amount i borrowed or showing the interest rate i am paying i did call them this morning and the broker said there eas not room on the form, realy

sort off it is a hire agreement-unregulated £12000 for the purchase of my truck which they paid direct £10000 as cash flow and the rest for other business related such as financial standing insurance etc, does this still sound correct as i do not understand how you hire cash flow

Indeed and I am sorry. All the best. If this answers your question could I invite you to rate my answer, 5 stars the happy face on the page before you go today, otherwise the site doesn’t pay me for the time spent with you. Thanks in advance!

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